An organic solvent based paint has generally been approved, but attempts have now been made to change to an aqueous solvent based paint from the viewpoint of saving energy source and environmental pollution. Such an aqueous solvent based paint employs a resin which is soluble or dispersible in an aqueous medium. In order to enhance coating workability of the aqueous solvent based paint, it has been proposed that resin powder is formulated into it. However, the aqueous paint is not sufficient in dispersion stability and water resistance. The above defects have been recently improved by many efforts to provide an aqueous paint having good characteristics (for example, Japanese Patent Publication (examined) 13508/1986).
In order to obtain high gloss, it is required that the resin powder is finely dispersed in an aqueous paint containing a resin powder. The obtained aqueous paint is insufficent in sag resistance, especially at a high humidity. If a concentration of the resin powder is increased in such a finely dispersed paint to enhance sag resistance, then gloss is deteriorated. It therefore is difficult to reconcile sag resistance and appearance.